Tuesday, July 16, 2013

G.O No.115 Dated 09.05.2013 CPS Interest Rate

G.O No.115 Dated 09.05.2013 CPS Interest Rate
Finance (PGC) Department, G.O.No.115, Dated: 09.05.2013
Pension-Contributory Pension Scheme-Employees contribution and Government contribution-Rate of interest for the financial year 2012-13 and 2013-2014 Orders -Issued


Read:
1.G.O.Ms.No.222, Finance (Pension) Department, dated.3.6.2008.
2.G.O.Ms.No.38, Finance (PGC) Department, dated 11.2.2013.
3.G.O.Ms.No.127, Finance (Allowances) Department, dated 19.4.2013
ORDER:
In the reference first cited the rate of interest for Contributory Pension Scheme has been fixed at 8% with effect from 1.4.2003.
2. In the reference second cited the rate of interest for Contributory Pension Scheme has been
fixed at the rate of 8% upto 30.11.2011 and at the rate of 8.6% with effect from 1.12.2011.
3. In the reference third cited, the rate of interest for General Provident Fund has been fixed at the rate of 8.8% for the financial year 2012-2013 with effect from 1.4.2012 and at the rate of 8.7% for the financial year 2013-14 with effect from 1.4.2013.
4. Accordingly, the Government direct that the rate of interest for the Contributory Pension Scheme is also fixed at the same rate of interest applicable to General Provident Fund i.e. at the rate of 8.8% for the financial year 2012-13 with effect from 1.4.2012 and at the rate of 8.7% for the financial year 2013-14 with effect from 1.4.2013
5. The above rate of interest will remain the same until further orders are issued in this regard

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